BitX Rebrands as Luno with Global Offerings

BitX the Singapore-based South African Bitcoin exchange has rebranded as Luno with brand new global offerings.

“Our new brand and product offerings are better aligned with this vision and will help drive our mission of bringing Bitcoin to everyone, everywhere,” said Marcus Swanepoel, CEO of Luno. It is called Luno (Moon in Esperanta) in reference to a popular Bitcoin saying “To the moon!” in the hopes of bringing awareness and offerings to people everywhere around the world.

Luno now offers a Bitcoin wallet with a revamped website and newly launched mobile apps. Along with the rebrand they are now offering the ability to purchase Bitcoins easily with a credit card. The new platform is currently still in Beta mode and is offering services to South Africa, Canada, India and most European countries.

Swanapoel said in a statement: “We believe that decentralized digital currencies like Bitcoin will fundamentally change how the world views and uses money. Cheaper, faster and safer transactions; more privacy and financial freedom; a significantly better user experience; and ultimately, more equality by giving everyone in the world access to the same financial system.”

Luno which was previously BitX famously raised 54 million ZAR in seed funding, they are the most popular South African Bitcoin exchange with the most volume. Let’s see where this move takes them.

What do you think of this move by BitX, is it a win or loss for South Africans?